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Borrowing Gauge Falls

WASHINGTON -- Total direct borrowing from the Federal Reserve's discount window tumbled in the latest week, falling below $300 million on Wednesday for the first time in nearly two months.

The Fed said in a weekly report issued Thursday that total borrowing at its discount window, including both depository institutions and primary dealers, dropped to $288.70 billion Wednesday from $316.08 billion in the prior week. Total average daily borrowing also fell to $296.82 billion from $322.93 billion in the prior week.